Agenda, decisions and minutes

All Members and officers present at the meeting declared a general Non Pecuniary/Other Interest in respect of items related to the setting of the Council Tax for 2021/2022.

RESOLVED

that the minutes of the meeting of the Cabinet held on 26 January 2021 be

received and approved as a correct record.

RESOLVED

that the minutes of the meeting of the Cabinet held on 26 January 2021 be

received and approved as a correct record.

Key Decision

Portfolio Holder

Councillor Rachel Madden – Portfolio Holder for Finance

RESOLVED

that Council be recommended to approve the following:

a)    a freeze (no increase) in the level of the District’s own Council Tax for 2021/22, setting the Band D equivalent at £190.46, the same as in 2020/21;

b)    the proposed 2021/22 Revenue (General Fund) and HRA Budgets as set out in the report (Sections 3 and 4);

c)    the proposed Capital Programme and associated borrowing 2020/21 to 2024/25 as set out in the report (Section 5 and Appendix 1);

d)    the 2020/21 Revised HRA and Capital Budgets as set out in this report (Sections 4 and 5);

e)    the precept figures from Nottinghamshire County Council, Nottinghamshire Fire and Rescue Authority, Police and Crime Commissioner and the two Parish Council’s within the District be incorporated, when known, into the Council Tax recommendation to Council on 4 March 2021;

f)      to note the estimated financial challenge in the Medium Term Financial Strategy (MTFS) for 2022/2023 to 2025/26 and the planned approach to address the challenge (Section 6);

g)    to bring a detailed, refreshed Medium Term Financial Strategy back to Cabinet after the 2020/21 Accounts have been closed and audited and the 3 year Spending Round figures are confirmed;

h)    the proposed use of reserves as set out in the report (Table 5 (General Fund) and Table 9 (HRA)), and the proposed changes to reserves as set out in Section 3.8;

i)      to note and accept the comments and advice of the Corporate Finance Manager (Section 151 Officer), provided in compliance with Section 25 of the Local Government Act 2003, as to the robustness of the estimates included in the 2021/22 Budget and the adequacy of the reserves for which this budget provides. (Section 7);

j)      to note that the proposed 2021/22 budgets reflect the agreed changes to Fees and Charges approved by Cabinet on 26 January 2021;

k)    the use of in-year Capital Receipts up to 2021/22 to maximise capitalisation opportunities arising from service transformation to deliver efficiencies and improved services to residents and clients, and thereby minimise the impact of costs on the revenue budget as included in the Flexible Use of Capital Receipts Strategy 2018/19 approved by Council on 11 October 2018.

Cabinet were presented with the Council’s Annual Budget, the Council Tax

proposals for 2021/22 and a Medium Term Financial Strategy (MTFS) update.

Members considered the alternative option of applying an inflationary increase to mitigate against the estimated funding gap in future years, but recognised the severe adverse impact the Coronavirus pandemic has had on many residents and the need and desire of the Council to be as supportive to residents as possible.

RESOLVED

that Council be recommended to approve the following:

a)    a freeze (no increase) in the level of the District’s own Council Tax for 2021/22, setting the Band D equivalent at £190.46, the same as in 2020/21;

b)    the proposed 2021/22 Revenue (General Fund) and HRA Budgets as set out in the report (Sections 3 and 4);

c)    the proposed Capital Programme and associated borrowing 2020/21 to 2024/25 as set out in the report (Section 5 and Appendix 1);

d)    the 2020/21 Revised HRA and Capital Budgets as set out in this report (Sections 4 and 5);

e)    the precept figures from Nottinghamshire County Council, Nottinghamshire Fire and Rescue Authority, Police and Crime Commissioner and the two Parish Council’s within the District be incorporated, when known, into the Council Tax recommendation to Council on 4 March 2021;

f)      to note the estimated financial challenge in the Medium Term Financial Strategy (MTFS) for 2022/2023 to 2025/26 and the planned approach to address the challenge (Section 6);

g)    to bring a detailed, refreshed Medium Term Financial Strategy back to Cabinet after the 2020/21 Accounts have been closed and audited and the 3 year Spending Round figures are confirmed;

h)    the proposed use of reserves as set out in the report (Table 5 (General Fund) and Table 9 (HRA)), and the proposed changes to reserves as set out in Section 3.8;

i)      to note and accept the comments and advice of the Corporate Finance Manager (Section 151 Officer), provided in compliance with Section 25 of the Local Government Act 2003, as to the robustness of the estimates included in the 2021/22 Budget and the adequacy of the reserves for which this budget provides. (Section 7);

j)      to note that the proposed 2021/22 budgets reflect the agreed changes to Fees and Charges approved by Cabinet on 26 January 2021;

k)    the use of in-year Capital Receipts up to 2021/22 to maximise capitalisation opportunities arising from service transformation to deliver efficiencies and improved services to residents and clients, and thereby minimise the impact of costs on the revenue budget as included in the Flexible Use of Capital Receipts Strategy 2018/19 approved by Council on 11 October 2018.

Reason:

To recommend to Council approval of a freeze (no increase) in the District Council’s Council Tax for a Band D equivalent property, approval of the HRA and Capital Budget Revisions for 2020/21 and approval of the proposed 2021/22 Revenue and HRA Budgets and the Capital Programme 2020/21 to 2024/25. In accordance with the Local Government Finance Act 1992 the Council must set its annual budget  ...  view the full minutes text for item CA.63

Key Decision

Portfolio Holder

Councillor Rachel Madden – Portfolio Holder for Finance

RESOLVED that

a)    the content of the Capital Strategy (CS) for 2021/22 including Annexes 1 to 3, as appended to the report, be received and noted;

b)    Council be recommended to approve the following:-

·       Capital Strategy

·       Commercial Property Investment Strategy

·       Commercial Property Indicators.

Cabinet considered the Council’s proposed Capital Strategy prepared in

accordance with the Chartered Institute Public Finance and Accountancy

(CIPFA) Prudential Code for Capital Finance in Local Authorities.

As it is a requirement of the CIPFA Prudential Code for all Local Authorities to

have a Capital Strategy and a requirement of MHCLG Statutory Guidance on

Local Government Investments to have an Investment Strategy covering non treasury management investments, Members did not have any alternative

options to consider.

RESOLVED that

a)    the content of the Capital Strategy (CS) for 2021/22 including Annexes 1 to 3, as appended to the report, be received and noted;

b)    Council be recommended to approve the following:-

·       Capital Strategy

·       Commercial Property Investment Strategy

·       Commercial Property Indicators.

Reasons:

1.    It is a requirement of the CIPFA Prudential Code for all Local Authorities to have a Capital Strategy approved by Council.

2.    MHCLG Statutory Guidance on Local Government Investments require that the Council has an Investment Strategy that covers non-treasury management investments and includes quantitative indicators approved by Full Council.

Key Decision

Portfolio Holder

Councillor Rachel Madden – Portfolio Holder for Finance

RESOLVED that

a)    the content of the Treasury Management Strategy (TMS) for 2021/22, be received and noted;

b)    Council be recommended to approve the Treasury Management Policy Statement incorporating the following:

·       Treasury Management Strategy Statement (TMSS)

·       Borrowing Strategy

·       Annual Investment Strategy

·       Minimum Revenue Provision (MRP) Policy

·       Prudential Indicators and Treasury Management Indicators

·       Treasury Management Practices: Risk Management.

Members were requested to consider the Council’s Treasury Management

Strategy for the financial year 2021/22 comprising the following:-

Treasury Management Policy

Treasury Management Strategy Statement (TMSS)

Borrowing Strategy

Annual Investment Strategy

Minimum Revenue Provision Policy

Prudential Indicators and Treasury Management Indicators

Treasury Management Practices: Risk Management.

As it is a requirement of the CIPFA Treasury Management Code for all Local

Authorities to have a Treasury Management Strategy (TMS) and a requirement of MHCLG Statutory Guidance on Local Government Investments to have an Investment Strategy, Members had no alternative options to consider.

RESOLVED that

a)    the content of the Treasury Management Strategy (TMS) for 2021/22, be received and noted;

b)    Council be recommended to approve the Treasury Management Policy Statement incorporating the following:

·       Treasury Management Strategy Statement (TMSS)

·       Borrowing Strategy

·       Annual Investment Strategy

·       Minimum Revenue Provision (MRP) Policy

·       Prudential Indicators and Treasury Management Indicators

·       Treasury Management Practices: Risk Management.

Reason:

In accordance with Financial Regulation C.31, the Audit Committee is

responsible for providing effective scrutiny of the Treasury Management

Strategy and policies and recommending approval to Cabinet and Council.

Non-Key Decision

Portfolio Holder

Councillor Samantha Deakin – Portfolio Holder for Customer Services and IT

RESOLVED that

a)    the current significant items on the Register and any immediate actions deemed necessary to mitigate against those risks, be received and noted;

b)    the updated Corporate Risk Strategy and new Risk Appetite Framework, as appended to the report, be approved.

Cabinet were requested to review the Corporate Risk Register and the analysis of movement in risk and mitigating actions including consideration and approval of the updated Corporate Risk Strategy and new Risk Appetite Framework.

Members considered the alternative option of declining to approve the

Corporate Risk Strategy and new Risk Appetite Framework but this was not recommended following suggestions made by Internal Audit.

RESOLVED that

a)    the current significant items on the Register and any immediate actions deemed necessary to mitigate against those risks, be received and noted;

b)    the updated Corporate Risk Strategy and new Risk Appetite Framework, as appended to the report, be approved.

Reasons:

1.    To prioritise and manage the mitigation of Risk in order that the Council can achieve its objectives.

2.    Updates have been made to the Corporate Risk Strategy in order to facilitate greater understanding of risk maturity and improved organisational performance against the ALARM national performance model for risk management in public services, as suggested by Internal Audit. This is also highlighted as an improvement action in the Annual Governance Statement.

3.    Updates have also been made to the Corporate Risk Strategy to incorporate new approaches to understanding risk appetite, as defined in the new Corporate Risk Appetite Framework. The Corporate Risk Strategy has recently been reviewed following the outcome of audit recommendations summarised within the report.

4.    On 1 February 2021, Audit Committee endorsed the revisions to the Corporate Risk Strategy and new Risk Appetite Framework, prior to presentation to Cabinet for approval.